Timken (TKR) Set to Announce Quarterly Earnings on Tuesday

Timken (NYSE:TKR - Get Free Report) will be releasing its earnings data before the market opens on Tuesday, April 30th. Analysts expect Timken to post earnings of $1.50 per share for the quarter. Timken has set its FY24 guidance at $5.80-6.20 EPS and its FY 2024 guidance at 5.800-6.200 EPS.Parties interested in participating in the company's conference call can do so using this link.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings data on Monday, February 5th. The industrial products company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.22 by $0.15. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.06 billion. Timken had a net margin of 8.26% and a return on equity of 19.57%. The company's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the business posted $1.22 EPS. On average, analysts expect Timken to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Timken Stock Performance

Shares of TKR stock traded up $0.93 during trading on Tuesday, hitting $86.62. The company's stock had a trading volume of 318,972 shares, compared to its average volume of 488,914. The business has a fifty day moving average of $85.10 and a 200-day moving average of $79.24. The company has a market cap of $6.10 billion, a PE ratio of 15.86, a P/E/G ratio of 1.18 and a beta of 1.54. Timken has a 52 week low of $65.71 and a 52 week high of $95.08. The company has a current ratio of 1.79, a quick ratio of 0.96 and a debt-to-equity ratio of 0.66.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 20th were paid a $0.33 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.32 dividend on an annualized basis and a yield of 1.52%. Timken's dividend payout ratio (DPR) is presently 24.18%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Morgan Stanley initiated coverage on shares of Timken in a research report on Monday, January 8th. They set an "equal weight" rating and a $74.00 price target for the company. Evercore ISI cut shares of Timken from an "outperform" rating to an "in-line" rating and set a $84.00 price target on the stock. in a report on Tuesday, February 20th. Oppenheimer reissued an "outperform" rating and set a $100.00 price objective (up from $97.00) on shares of Timken in a report on Thursday, March 21st. The Goldman Sachs Group upped their price target on Timken from $78.00 to $87.00 and gave the company a "neutral" rating in a research report on Tuesday, February 6th. Finally, StockNews.com lowered Timken from a "buy" rating to a "hold" rating in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Timken presently has an average rating of "Hold" and a consensus target price of $85.90.

Timken Company Profile

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.